With the first two months pretty much out of the way we are now able to provide our FTSE 100 Forecast 2023.
The FTSE 100 is currently going through a multi month topping process combined with an expected 5 year (ish) topping process.
The difficulty with a multi – year top is that is very difficult to pin down. The best we have been able to do is to ascertain it’s between now and the end of 2023.
However we can look at the current trends combined with shorter cycles to be able to ascertain low risk / high reward entry points. We have identified 2.
Our first (red circle) is a short between mid March 2023 and mid April 2023 at around 8300 or above. If the FTSE 100 manages to get this high the timing is excellent for a late bull run in the current multi month cycle. The cycle would then end with a fall out of a rising wedge into the low risk long entry point (green circle) in May.
Due to the strength of the current cycle we would now expect a good bounce in May but what happens after really depends on whether the multi year cycle had complete in April.
We will therefore be watching the summer period and action in our white circle very carefully. Will we get an early monthly cycle peak and an effective double top or will the FTSE continue to really to what some will see to be unbelievable levels?
Only time will tell!
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